MIRA INFORM REPORT

 

 

Report Date :           

06.01.2012

 

IDENTIFICATION DETAILS

 

Name :

GLOBAL SEAFOOD MARKETING

 

 

Registered Office :

Mezzanine 1, 20-C, Phase VII, Jami Commercial, D.H.A. Karachi

 

 

Country :

Pakistan

 

 

Year of Establishment :

2005

 

 

Legal Form :

Partnership Concern

 

 

Line of Business :

Engaged in processing & export of Sea Food Products

 

 

No. of Employees :

25

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Pakistan

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Business Name

 

GLOBAL SEAFOOD MARKETING

 

 

Full Address       

 

Registered Address

Mezzanine 1, 20-C, Phase VII, Jami Commercial, D.H.A. Karachi, Pakistan

                       

Tel #

92 (21) 35311753, 35311756,  +923213774271

Fax #

92 (21) 35311757

Email

---

 

 

Short Description Of Business

 

a.

Nature of Business        

Engaged in processing & export of Sea Food Products

b.

Year Established

2005

 

 

Overseas Branches

           

(1) 5-Tunmarsh Lane, Plaiston, London E-13 9nd, U.K.

(2) 88-73, 193rd Street, Suite No. 11, Hollis N.Y., 111423, U.S.A.

 

 

Legal Status

 

Subject Concern was established as a Partnership business in 2005

 

 

Details of Partners

 

Names

Nationality

Address

Occupation

Designation

Mr. Zafar Ali Nizamani

 

 

 

Mr. Muhammad Faisal

Pakistani

 

 

 

 

Pakistani

Mezzanine 1, 20-C, Phase VII, Jami Commercial, D.H.A. Karachi

 

Mezzanine 1, 20-C, Phase VII, Jami Commercial, D.H.A. Karachi

Business

 

 

 

 

Business

 

 

Managing Partner

 

 

 

Partner

 

 

 

Business Activities

 

Subject Concern is engaged in processing & export of Sea Food Products.

 

It purchases against D/A basis.

 

It sells against Cash / Credit terms to its local customers.

 

Its major customers are Buying Agencies, Traders etc

 

Subject operates from caption leased office premises of area measuring 600 Sq.ft. which is situated at residential + commercial area.

 

Subject employs about 25 persons in its set up.

 

 

Annual Sales Volume

 

Year

In Pak Rupees

2010

50,000,000/- (Estimated)

 

 

Bankers

 

(1)     Askari Bank Limited, Pakistan.

(2)     Bank Alhabib Limited, Pakistan.

(3)     United Bank Limited, Pakistan.

(4)     Soneri Bank Limited, Pakistan.

 

 

Foreign Exchange Rates

 

Currency

 

Unit

Pakistani Rupee

US Dollar

1

            Rs. 89.90

UK Pound

1

            Rs. 139.00

Euro

1

            Rs. 116.00

           

 

 

Comments

 

Subject Concern was established in 2005 and is engaged in processing & export of Sea Food Products. Trade relations are reported as fair. Subject can be considered for normal business dealings at usual trade terms and conditions.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.82.33

Euro

1

Rs.68.19

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

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This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.